"The diffuseness of the present revenue system of the United States is doubtless one of its greatest imperfections, and under it the exemption of any article from taxation is the exception rather than the rule. To assert this, however, is no reflection on the judgment or skill of its authors. The system was framed under circumstances of such pressing necessity as to afford but little opportunity for any careful and accurate investigation of the sources of revenue; but it has most certainly accomplished the end designed, namely, the raising of revenue; and the country to-day is undoubtedly receiving by taxation far more revenue than is necessary for its legitimate expenditures. As a success, therefore, our present revenue system is a most honorable testimonial, not only to the wisdom of its authors, but to the patriotism of the people, who not only _endured_, but _welcomed_, the burdens it imposed upon them. "A system of taxation, however, so diffuse as the present one, necessarily entails a system of duplication of taxes, which in turn leads to an undue enhancement of prices; a decrease both of production and consumption, and consequently of wealth; a restriction of exportations and of foreign commerce; and a large increase in the machinery and expense of the revenue collection. "In respect to the injurious influence of this duplication of taxes upon the industry of the country, the Commission cannot speak too strongly. Its effect has already been most injurious. It threatens the very existence (even with the protection of inflated prices and a high tariff) of many branches of industry; and with a return of the trade and currency of the country to anything approximating its normal condition, it must, by checking development, prove highly disastrous. "The influence of the duplication of taxes in sustaining prices is also, in the opinion of the Commission, far greater than those not conversant with the subject generally estimate; and were the price of gold and of the national currency made at once to approximate, and the present revenue system to continue unchanged, it would be impossible for the prices of most products of manufacturing industry to return to anything like their former level."